DENACO: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DENACO
Largest movements
- Tangible fixed assets -€7,411
down €7,411 (-26.8%), from €27,618 to €20,207
- Receivables within one year +€6,869
up €6,869 (+27.0%), from €25,439 to €32,308
of which Other amounts receivable: +€7,803
- Cash -€6,278
down €6,278 (-56.8%), from €11,048 to €4,770
mainly Debts after one year (-€7,213) and Receivables within one year (-€6,869)
- Debts after one year -€7,213
down €7,213 (-33.4%), from €21,576 to €14,364
- Profit (loss) carried forward +€2,466
up €2,466 (+5.4%), from €45,703 to €48,170
- Tax, wage and social debts -€1,295
down €1,295 (-56.2%), from €2,307 to €1,012
- Trade debts -€1,173
down €1,173 (-42.0%), from €2,793 to €1,621
- Gross operating margin +€3,933
up €3,933 (+47.9%), from €8,209 to €12,142
- Financial income +€919
new in 2025: €919
- Other operating charges +€219
up €219 (+29.2%), from €751 to €971
- Financial charges -€207
down €207 (-8.6%), from €2,420 to €2,213
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €99,636 | €92,830 | -€6,807 | -6.8% |
| Fixed assets | 21/28 | €62,618 | €55,207 | -€7,411 | -11.8% |
| Intangible fixed assets | 21 | €35,000 | €35,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €27,618 | €20,207 | -€7,411 | -26.8% |
| Furniture and vehicles | 24 | €27,618 | €20,207 | -€7,411 | -26.8% |
| Current assets | 29/58 | €37,018 | €37,622 | +€604 | +1.6% |
| Amounts receivable within one year | 40/41 | €25,439 | €32,308 | +€6,869 | +27.0% |
| Trade receivables | 40 | €2,067 | €1,133 | -€934 | -45.2% |
| Other amounts receivable | 41 | €23,372 | €31,175 | +€7,803 | +33.4% |
| Cash at bank and in hand | 54/58 | €11,048 | €4,770 | -€6,278 | -56.8% |
| Deferred charges and accrued income | 490/1 | €531 | €544 | +€14 | +2.6% |
| Total equity and liabilities | 10/49 | €99,636 | €92,830 | -€6,807 | -6.8% |
| Equity | 10/15 | €66,154 | €68,621 | +€2,466 | +3.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,703 | €48,170 | +€2,466 | +5.4% |
| Amounts payable | 17/49 | €33,482 | €24,209 | -€9,273 | -27.7% |
| Amounts payable after more than one year | 17 | €21,576 | €14,364 | -€7,213 | -33.4% |
| Financial debts | 170/4 | €21,576 | €14,364 | -€7,213 | -33.4% |
| Amounts payable within one year | 42/48 | €11,905 | €9,845 | -€2,061 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €6,805 | €7,213 | +€408 | +6.0% |
| Trade debts | 44 | €2,793 | €1,621 | -€1,173 | -42.0% |
| Suppliers | 440/4 | €2,793 | €1,621 | -€1,173 | -42.0% |
| Taxes, remuneration and social security | 45 | €2,307 | €1,012 | -€1,295 | -56.2% |
| Taxes | 450/3 | €2,307 | €1,012 | -€1,295 | -56.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,411 | €7,411 | -€0 | 0.0% |
| Other operating charges | 640/8 | €751 | €971 | +€219 | +29.2% |
| Gross operating margin | 9900 | €8,209 | €12,142 | +€3,933 | +47.9% |
| Operating profit (loss) | 9901 | €47 | €3,761 | +€3,714 | +7884.4% |
| Financial income | 75/76B | - | €919 | +€919 | |
| Recurring financial income | 75 | - | €919 | +€919 | |
| Financial charges | 65/66B | €2,420 | €2,213 | -€207 | -8.6% |
| Recurring financial charges | 65 | €2,420 | €2,213 | -€207 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,373 | €2,466 | +€4,839 | |
| Profit (loss) for the period | 9904 | -€2,373 | €2,466 | +€4,839 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,373 | €2,466 | +€4,839 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.